Africa
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The Kingdom of Morocco moved from roadshow to deal execution on Thursday with a 12 year bond that looked set for tight pricing. -
Lagos-headquartered multilateral finance institution Africa Finance Corporation (AFC) signed a $140m-equivalent syndicated Kimchi term loan facility with Shinhan Bank — its first Korean-focused tool, as the bank diversifies its funding sources.
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The Republic of Angola printed a $3bn two tranche trade on Tuesday with no new issue premium, waving off any concerns that investors might be wary of a borrower in a complicated economic situation.
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Africa Finance Corporation (AFC) increased its Swiss franc debt stack on Tuesday, pricing a Sfr200m ($202m) four-year bond that was double the size of its last outing in the market.
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The Republic of Angola sought a dual tranche trade on Tuesday, marketing 10 and 30 year bonds to investors that will likely have mixed views on the sovereign.
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Africa Finance Corporation, the pan-African multilateral development finance institution (DFI), has mandated for a Swiss franc bond as its only other note in the currency approaches redemption.
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The Arab Republic of Egypt this week proved that emerging market bond investors will still part with their cash even at this stage in the year if the deal is right, while at the same time proving that ultra-long dated bond funding is open to emerging markets issuers.
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The Republic of Angola kicked off a roadshow on Thursday for a two tranche dollar bond trade comprising 10 and 30 year bonds.
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The Arab Republic of Egypt pulled in $14.5bn of demand for its $2bn triple tranche bond deal on Wednesday, in a trade that was priced well inside the sovereign's curve.
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Nedbank has closed a $500m term loan, while Investec has launched its own syndicated loan, indicating that despite concerns about South Africa’s ratings outlook, its borrowers maintain access to international syndicated loans.
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The Arab Republic of Egypt had clocked up more than $9bn of demand for its triple tranche bond trade by lunch time on Wednesday.
